The Game-Plan: Home Condition Audit

The first step to bringing a home to Showing Quality (SQ) is to address the minor (and major) cosmetic issues that need addressing with the home. Every seller has a budget, and there is a level of experience required to determine which changes/fixes make the most sense given that budget. Make sure to realize that this is not a one-size-fits-all approach because each scenario is different.

To the benefit of my sellers, I have managed to keep the cost of cosmetic updates below $5000 for homes up to 3000 square feet. I achieve this with the assistance of a handyman that does high-quality work, at prices that are severely lower than the regular competition in your location. Doug and his team have been invaluable to my business; it is advisable to find your own ‘Doug’, as a seller OR a Realtor in your particular market.

With that said, what is the order of operations to get to SQ by way of cosmetic updates? Here is how I rank the important issues in ROI for a seller (in Fairfield County CT, and Norwalk specifically):

1

Fresh coat of paint
For a few thousand dollars, a fresh coat of paint has so many benefits. Newly painted interior instantly adds a fresh, clean look to any room. While dark colors may be stylish, using lighter colors brightens the room and makes smaller spaces look much larger. Local paint companies might be able to assist with choosing colors, but for most rooms, a light gray is currently in style. The contrast between the wall color and ultra-white (glossy) trim is what makes the most impact here. For perspective, a normal room, with painted trim, should cost around $200-$400, and no more. A 2000 square foot home can be fully painted for under a couple of thousand dollars. I have also used my handyman to paint the whole exterior of a home, still within the $5000 budget.
NOTE: Homes with problematic odors will benefit greatly from this change.​

2

Refinished Hardwood Floors
Hardwood floors are in. This step might include removing old carpet from a home, but has arguably one of the biggest impacts on making a home sell quicker and at a higher price. Refinishing and re-staining hardwood has similar impact on a home as painting – it freshens and revitalizes the space. The cost of a refinish for around 600 square feet should not exceed $1000. Again, for a 2000 square foot home, this should be a couple of thousand dollars, max.
NOTE: Homes with problematic odors will benefit greatly from this change.​

3

Kitchen Hardware and Floors
The kitchen is the most expensive room to address when renovating a home. For our purposes, it is one of the least expensive, depending on the scope. The easiest, and cheapest quick-fix to a kitchen is replacing the hardware, or the handles, and if necessary, the hinges on the cabinets. If the cabinets are older wood, you can also opt to paint them, which instantly revitalizes the space. The other thing that I have used successfully the past for a few homes, is a ceramic tile for the floors that adheres without thin-set (the material used to place tile). You can then grout the gaps after they have set, making this inexpensive alternative look like real tile. If you have linoleum or vinyl down, this can be laid right on top. The cost for 100 square feet should be no more than $750, and the tiles can be bought at Home Depot.

4

Bathroom Finishes
To the same effect of kitchen updates, the bathroom updates make a major impact, at a low cost. Floors and hardware should be replaced. You can also purchase inexpensive light fixtures, towel holders, toilet seats, etc, that instantly give the bathroom a fresh look. If you don’t want to shell the $300 (for materials) for a new vanity, you can always repaint the older wood vanity. The color black has been recommended for this job (by my stager). Recaulking the tub, and deep cleaning can go a long way in the bathroom. The handyman can spend under $200 per bathroom, to great effect (hardware, light fixtures, tower holders). 

5

Curb Appeal
The first impression for a buyer is always the exterior of a home, especially for single family homes. The most impact in this department goes to painting of trim, and cleaning of windows, easily done by a contractor for less than a couple hundred dollars. When chipping paint is visible at the front door and around the windows, it gives the impression of lack of updates and care on the part of the homeowner. In the fall, it is essential to clean the yard of leaves; for spring, make sure the grass is cut, and fresh mulch is placed in the flower beds, especially in the front. It is also helpful to cut away the bushes from in front of the windows, and make sure no bush or planting is overgrown (especially if it eliminates light inside the home). Much of these can be done yourself, but in the scope of a handyman’s work, they might be able to throw this in the mix.

6

Misc Fixes
Throughout the home, any trim, corners, or visible items that can be addressed, should be. Fixing trim along with other small detailed cosmetic fixes gives the future buyer one less thing that they need to take care of, and this leads to higher dollars for the home. This work can vary greatly, so take it on a case-by-case basis. 

For all six items above, my handyman does a great job of itemizing the list, line-by-line so my seller clients know exactly where their dollars are being spent. This also enables the seller to know the total scope of what I might recommend (thus giving them full transparency on what to do), but can pick and choose despite your advice, based on their budget. 
Disclaimer: These lists of ROI are intended for homes under $1,500,000 in Fairfield County. Local real estate is different, so consult a Realtor if you are reading this and are not located in Connecticut. 

There are issues such as termite treatment, non-functioning mechanicals, and other blatantly obvious items that may need addressing. If your roof is leaking, fix it! If the roof is 30 years old, manage your expectations by knowing the buyer might ask for a credit. The key here is to know what is coming, and to not be surprised by it.

If your heating system, cooling system, hot water heater, or any other major mechanical is not working, it must be fixed or the buyers will look for a steep discount in price.
A special note here: if the heating system doesn’t work, the buyer may not be able to get financing for the property. If the electric panel is fuse-based (instead of breakers), it is possible the buyer won’t be able to get insurance, and therefore won’t finish qualifying for a mortgage. 

So, if you are a seller or a Realtor with a listing, these tips should have been useful. Unless the budget is actually $0, don't be complacent in this category. A little goes a long way.

This article is one of several about Listing Real Estate - The Game-Plan.
The next topic in our Game-Plan is Home Staging Advice.